ABC's diluted earnings per share should be (round answer to two decimal places)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ABC Company had 1,200,000 ordinary shares outstanding on January 1 and December 31, 2020. In connection with the acquisition of a subsidiary in June 2019, ABC is required to issue 50,000 additional ordinary shares on July 1, 2021 to the former owners of the subsidiary. ABC paid P200,000 annual preference dividend in 2020 and reported net income of P3,400,000 for the year. The
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